Earn interest and grow your charity’s savings when you open an Instant Access Charity Savings Account. Get more flexibility and access your funds anytime. Whilst you earn interest, we will use your money to support organisations that deliver positive social impact in the UK.
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if we as a Bank fail to meet our financial obligations. In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website for the Finanacial Services Compensation Scheme.
To open an account, download and read the following documents, submit the completed application form, personal details form for all authorised signatory members and trustees of the charity, and other relevant documents required either by email at customer.experience@reliancebankltd.com or by post to “Reliance Bank, Faith House, 23-24 Lovat Lane, London EC3R 8EB”. Do not send us any funds until our team have contacted you to explain how funds can be deposited safely and securely.
Please Note: Reliance Bank uses your personal information to confirm your identity and assess your application when you apply for an account with us. We will only collect, process and store information about you in accordance with our Privacy Notice. For more details, please read our Privacy Notice.
Rates and information correct at 12/11/2024.
Definitions Explained
1. *AER
AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts. As every advertisement for a savings product, which quotes an interest rate, will contain an AER you will be able to compare more easily what return you can expect from your savings over time.
2. **Gross rate
Gross rate means that credit interest is paid without income tax being deducted.
An instant access charity savings account is a savings account designed exclusively for charities registered either in England or Scotland. Charities can open this account with as little as £1, with unlimited withdrawals and deposits. The account offers a variable interest rate, this means the interest rate may change based on market conditions.
Yes, you can make unlimited withdrawals from an instant access charity savings account without any penalties.
We refer to the interest rate as an AER, which stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts. As every advertisement for a savings product, which quotes an interest rate, will contain an AER you will be able to compare more easily what return you can return from your savings over time.
At Reliance bank, interest on instant access accounts will be applied to the Account quarterly, on the set quarter dates.
The instant access charity savings account is available to charities registered in either England or Scotland.
You must submit the completed charity savings application form, personal details form for all signatory members and trustees of the charity, and relevant documents to support your application. Please contact our Customer Experience Team on 020 7398 5400 to get more details on the documents to be submitted.
For further assistance, please reach out to our Customer Experience Team at 020 7398 5400 or email us at customer.experience@reliancebankltd.com.
We are proud to be the bank of The Salvation Army International. Find out more about our shared history.
We are proud to be the bank of The Salvation Army International. Find out more about our shared history.